Home » News » Here you can give your bank details to the IRS to receive the $ 1,200 ‘check’ faster. Univision Money News

Here you can give your bank details to the IRS to receive the $ 1,200 ‘check’ faster. Univision Money News

Many have asked us how they can give the Internal Revenue Service (IRS) their information so that the tax authority can directly deposit the $ 1,200 of the aid pandemic ‘check’ for coronavirus.

In case the IRS already has your bank account information because in previous years or this year you provided your bank account when filing taxes, then you don’t need to use this tool.

The tool Get My Payment “will give eligible individuals the opportunity to provide their bank account information so they can receive payment more quickly, instead of waiting for a physical check, “said the IRS, which this Saturday he claimed to have deposited a first tranche of money approved by Congress to help cope with the impact of the covid-19 pandemic, the disease caused by the coronavirus.

Note that This tool will not be available if your payment has already been scheduled to be sent of help.

Another tool the IRS put in place seeks to expedite the delivery of the ‘check’ to low-income people who did not need to report income. You can use it if your income did not exceed $ 12,200 last year ($ 24,400 for married couples) and you are not yet a Social Security beneficiary. In this note we explain how this tool works.

What do I do if my address changes?

Another question we’ve received frequently is what to do if your address changed since the last time you filed your taxes with the IRS. This explains the tax entity that you must do in that case.

If your address changed and you have not yet filed your 2019 taxes, you should only detail your new address when preparing your return. The IRS will update your information when processing your tax return.

If your address changed after you filed your return, you must notify the appropriate post office of your old address.

And, since not all post offices forward government checks to new addresses, the IRS recommends that you notify them directly using the document 8822 or the 8822-B, the one that corresponds, and sending it to the address that appears in them.

It will take four to six weeks for the IRS to process the change, and in the midst of the pandemic, this may take longer than usual.

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